RPG Life Sciences Limited — Investor Presentation 2021

Oct 29, 2021

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October 29, 2021

The Manager Listing Department National Stock Exchange of India Limited Exchange Plaza, 5th Floor Plot No. C1, ‘G’ Block, Bandra-Kurla Complex Bandra (East), Mumbai 400 051.

BSE Limited Corporate Relationship Department Floor 25, P.J. Towers Dalal Street Mumbai 400 001.

Symbol: RPGLIFE

Scrip code: 532983

Dear Sir/Madam,

Sub: Results Earnings Call Q2 FY22 – Investors Presentation

In continuation of our letter dated October 20, 2021, please find enclosed herewith Investors Presentation for the quarter and half year ended September 30, 2021, for the Results Earnings Call scheduled on Monday, November 1, 2021, at 4.00 p.m. IST., dial-in details of which are reproduced below for ready reference.

Dial-in Details:

India (Universal) and Mumbai	+91 22 6280 1325 +91 22 7115 8226
Location	Toll Free Number
UK	08081011573
Singapore	8001012045
Hong Kong	800964448

Kindly take the same on record and disseminate appropriately.

Thanking you,

Yours faithfully,

For RPG Life Sciences Limited

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Rajesh Shirambekar Head – Legal & Company Secretary Encl.: as above

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Investors’ Presentation H1 FY22

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Disclaimer

This presentation may include statements which may constitute forward-looking statements. All statements that address expectations or projections about the future, including, but not limited to, statements about the strategy for growth, business development, market position, expenditures, and financial results, are forward looking statements. Forward looking statements are based on certain assumptions and expectations of future events. The Company cannot guarantee that these assumptions and expectations are accurate or will be realized. The actual results, performance or achievements, could thus differ materially from those projected in any such forward-looking statements.

The company operates in the Pharmaceutical segment. Some of the historical Profit and loss numbers which are sliced in the investor presentation for certain sales divisions are purely for broader understanding for investors of the business of the company and its growth trajectory. The information contained in these materials has not been independently verified. None of the Company, its Directors, Promoter or affiliates, nor any of its or their respective employees, advisers or representatives or any other person accepts any responsibility or liability whatsoever, whether arising in tort, contract or otherwise, for any errors, omissions or inaccuracies in such information or opinions or for any loss, cost or damage suffered or incurred howsoever arising, directly or indirectly, from any use of this document or its contents or otherwise in connection with this document, and makes no representation or warranty, express or implied, for the contents of this document including its accuracy, fairness, completeness or verification or for any other statement made or purported to be made by any of them, or on behalf of them, and nothing in this document or at this presentation shall be relied upon as a promise or representation in this respect, whether as to the past or the future. The information and opinions contained in this presentation are current, and if not stated otherwise, as of the date of this presentation. The Company undertake no obligation to update or revise any information or the opinions expressed in this presentation as a result of new information, future events or otherwise. Any opinions or information expressed in this presentation are subject to change without notice.

This presentation does not constitute or form part of any offer or invitation or inducement to sell or issue, or any solicitation of any offer to purchase or subscribe for, any securities of RPG Life Sciences Limited Limited (the “Company”), nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or commitment therefore. Any person/ party intending to provide finance / invest in the shares/businesses of the Company shall do so after seeking their own professional advice and after carrying out their own due diligence procedure to ensure that they are making an informed decision. This presentation is strictly confidential and may not be copied or disseminated, in whole or in part, and in any manner or for any purpose. No person is authorized to give any information or to make any representation not contained in or inconsistent with this presentation and if given or made, such information or representation must not be relied upon as having been authorized by any person. Failure to comply with this restriction may constitute a violation of the applicable securities laws. The distribution of this document in certain jurisdictions may be restricted by law and persons into whose possession this presentation comes should inform themselves about and observe any such restrictions. By participating in this presentation or by accepting any copy of the slides presented, you agree to be bound by the foregoing limitations.

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2

RPG Life Sciences Overview

RPG Life Sciences, part of RPG Enterprises, is an integrated research based pharmaceutical Company operating in the domestic and international markets in the branded formulations, global generics and synthetic APIs space.

Domestic Formulations (DF)

Develop, manufacture and market branded formulations in India & Nepal

APIs 18%

International Formulations (IF)

Domestic International Formulations Develop, manufacture and sell oral solid dosage Formulations (DF) 65% formulations in the generics and branded (IF) 17% generics space across Regulated and Emerging Markets

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Leader in Immunosuppressants

6 Leading Text Book Brands

50+ Markets Presence

3 Manufacturing Facilities

APIs

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Develop, manufacture and sell high value synthetic APIs in the general therapeutic category

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1100+ Employees

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RPG Life Sciences Product Portfolio

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Key Therapies Key Products
Immunosuppressant Portfolio Text Book Brands New Portfolio
Specialty Chronic Life Cycle Management
• Nephrology (Existing Products)
• Azathioprine
Domestic Rheumatology
Azathioprine
Formulations • Oncology Spironolactone Trastuzumab Azathioprine
•
(DF) Orthopaedics Vildagliptin
• Gastroenterology Mycophenolate Mofetil Diphenoxylate HCl Adalimumab Spironolactone + Torsemide
•
Cardiology
Bevacizumab
• Diabetology Cyclosporine Naproxen Teneligliptin Naproxen Sodium
•
Neuropsychiatry
Haloperidol Rituximab Montelukast + Bilastine
Tacrolimus
Disopyramide Phosphate
Tofacitinib Almagate + Semithicone
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International Formulations (IF)

Key Products

Generics - Azathioprine, Sodium Valproate PR, Nicorandil Branded Generics – Siloxogene, Azoran, Mofetyl, Arpimune, Dipsope

APIs

Key Products APIs - Quinfamide, Azathioprine, Haloperidol, Risperidone, Propantheline Bromide, Nicorandil, Pantoprazole, Diphenoxylate

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Key Financials, Business Highlights & Strategy

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Key Highlights of H1 FY22

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RPGLS growing faster than the market at 20.4% vs 15.2% (IPM)*

Healthy double-digit growth in revenues from operations

Profit margins’ record-setting trajectory continues – EBITDA margin reaches 23% & PBT margin 19% H1 records significant PBT margin expansion across the segments Sales health parameters in healthy zone and consistently improving

RPGLS iconic brands being built through diligent life cycle management strategy

New Products** contribution (16%) significantly improved in Domestic Business in line with our priorities

International Formulations Business also being strengthened by Continuous thrust on New Products/Customers/Markets Company continues to remain debt free with highest ever net cashflow generated from operations Rs. 39.1 crores in H1

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AIOCD AWACS MAT Sep’21 report *Launched FY20 Onwards

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In H1 FY22, Profit Margins’ Record-setting Trajectory continues…

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EBITDA%
23%
PBT%
18%
19%
16%
14%
11%
10%
10% 10%
9%
9%
8%
6%
6% 6% 5%
5%
4%
1% 0% 0%
0%
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Key Financials : H1 FY22

(All figures in Rs. Crores except EPS in Rs.)

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Revenue from Operations EBITDA & EBITDA Margin PBT & PBT Margin
220.8
49.9 41.6
188.8
36.5
27.6
23% 15% 19%
19%
FY21 H1 FY22 H1 FY21 H1 FY22 H1 FY21 H1 FY22 H1
PAT & PAT Margin EPS
17.7
29.3
12.2
20.2
11% 13%
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PAT & PAT Margin
29.3
20.2
11% 13%
FY21 H1 FY22 H1
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EPS
17.7
12.2
FY21 H1 FY22 H1
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Key Financials’ Trends

(All figures in Rs. Crores except EPS in Rs.)

Revenue from Operations EBITDA & EBITDA Margin

PBT & PBT Margin

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70.8 53.6
375.6 389.1 59.9
330.2 41.8 41.6
49.9
220.8
34.4
15.1
10% 16% 18% 23% 5% 11% 14% 19%
FY19 FY20 FY21 FY22 H1 FY19 FY20 FY21 FY22 H1 FY19 FY20 FY21 FY22 H1
PAT & PAT Margin EPS
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EPS

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40.1 24.2
29 29.3 17.5 17.7
10.8
6.5
3% 8% 10% 13%
FY19 FY20 FY21 FY22 H1 FY19 FY20 FY21 FY22 H1
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Key Financials’ Trends

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ROCE% ROE% Debt/Equity Ratio
18.5% 0.22
23.6% 24.3% 16.4%
11.0%
6.7%
0.06
0.01
FY19 FY20 FY21 FY19 FY20 FY21 FY19 FY20 FY21
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Company becomes Debt-free

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Business Segment-wise Performance : H1 FY22

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Sales (Rs Crs)
• Domestic Formulations contributed 65% to total Sales of H1 FY22 144.3
• 21% Sales growth majorly driven by Legacy Products
• Better than Market growth despite Covid headwinds due to second wave 119.7
• New Products Contribution improved to 16% on account of New launches in Specialty
(Biosimilars) & Chronic (Gliptins) segments and Line Extensions for Legacy Products
• Salesforce Productivity Improved to Rs 5 Lacs
FY21 H1 FY22 H1
39
36.9
• International Formulations contributed 17% to total Sales of H1 FY22
• Sales Growth of 6% despite Myanmar, one of our key emerging markets, declined
significantly due to political instability
•
New Products/Customers/Markets Contribution improved to 29%
FY21 H1 FY22 H1
39
• API contributed 18% to total Sales of H1 FY22
32.8
• 19% Sales Growth majorly driven by niche products
• Continuous thrust on new customer development
FY21 H1 FY22 H1
11
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• Domestic Formulations contributed 65% to total Sales of H1 FY22

• •

• Domestic 21% Sales growth majorly driven by Legacy Products

• Formulations • Better than Market growth despite Covid headwinds due to second wave • New Products Contribution improved to 16% on account of New launches in Specialty

• (DF) (Biosimilars) & Chronic (Gliptins) segments and Line Extensions for Legacy Products

• • Salesforce Productivity Improved to Rs 5 Lacs

• International Formulations contributed 17% to total Sales of H1 FY22

• International • Sales Growth of 6% despite Myanmar, one of our key emerging markets, declined

• Formulations significantly due to political instability

• •

• (IF) New Products/Customers/Markets Contribution improved to 29%

• API contributed 18% to total Sales of H1 FY22

• •

• API 19% Sales Growth majorly driven by niche products

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Key Financials : Q2 FY22

(All figures in Rs. Crores except EPS in Rs.)

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Revenue from Operations EBITDA & EBITDA Margin PBT & PBT Margin
26.5 22.4
112.7
97.1
19.2
14.7
20%
20% 24% 15%
FY21 Q2 FY22 Q2
FY21 Q2 FY22 Q2 FY21 Q2 FY22 Q2
PAT & PAT Margin EPS
9.5
15.8
11.2 6.7
12% 14%
FY21 Q2 FY22 Q2
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PAT & PAT Margin
15.8
11.2
12% 14%
FY21 Q2 FY22 Q2
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EPS
9.5
6.7
FY21 Q2 FY22 Q2
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RPG Life Sciences ICRA Rating Upgraded in FY21

Long term rating upgraded to A from A- Short term rating upgraded to A1 from A2+

Outlook on long term rating has been retained as Stable.

The rating upgradation factors:

• Considerable improvement in the operating performance on the back of

• Improvement in sales hygiene

• Cost rationalisation measures adopted over FY2020 and H1 FY2021.

• A robust capital structure and strong coverage indicators based on

• Decline in the company’s debt levels

• Healthy cash flows

• No major debt-funded capital expenditure (capex)

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Domestic Formulations (DF)

• Operating in Mass/Mass-specialty and Specialty segments

• Presence in both Acute & Chronic therapy areas

• Leading Text Book Brands – Azoran, Aldactone, Lomotil, Naprosyn, Serenace, Norpace

• Leader in Immunosuppressant category

• Good Customer Coverage - Cardiologists, Diabetologists, Urologists, Nephrologists, Rheumatologists, Oncologists

• New Product Launches in New Category – Biosimilars

Business Strategy

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5 Pillars of Profitable Domestic Business Growth
1 2 3 4 5
Product Portfolio Strategic Brand Assets Customer coverage Sales force Profitability
Rejuvenation by building through Life deepening in targeted effectiveness improvement by Opex
building Chronic & Cycle Management by therapies by expanding augmentation by control, efficient
Specialty Portfolio with introducing Line field force and deploying competencies building manufacturing
New Launches Extensions digital and productivity operations and sales
enhancement initiatives hygiene
14
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International Formulations (IF)

• Strong presence in immunosuppressant segment (Azathioprine)

• Footprints across Regulated and Emerging Markets - Canada, UK, Germany, France, Australia, South East Asia, Africa

• Long lasting, impeccable supply track record and business relationship with some of the leading generic players of the world

• High Quality and Process orientation making us a preferred partner

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Business Strategy
3 Pillars of Step-wise Global Business build up
1 2 3
Build Focus on products with specific/ Expand footprints in
Immunosuppressant competitive advantage e.g. Nicorandil Emerging Markets like
Portfolio (Special manufacturing conditions like Myanmar, Vietnam,
low RH), Sodium Valproate PR Philippines, Sri Lanka,
(Complex Generic product) Egypt, Sudan
15
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APIs

• High Value, Low Volume Niche APIs

• Mature Stable Molecules

• Provides backward integration to International Formulations business

• Footprints across geographies - LATAM, Iran, Germany, China, South Korea, Bangladesh, Egypt, India, etc

• Strong customer focus - Long lasting relationship with Big Pharma and Leading Generic Firms.

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Business Strategy
Business Continuity
1 2 3
Efficiency enhancement Niche Product Focus - Mature Stable Molecules
Quinfamide – Market/Customer
Expansion
16
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Infrastructure & Backend Capabilities

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Manufacturing Facilities

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Formulations Unit 1, Ankleshwar
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Formulations Unit 2, Ankleshwar

• F1 unit caters to the Domestic and Emerging Markets

• Multipurpose plant with dedicated product lines for Oral Dosage forms including Tablets, Liquids and Powder

• WHO, Kenya, Nigeria approved

• F2 unit caters to the Regulated Markets

• Dedicated product lines for Oral Dosage (Capsules & Tablets)

• Equipped to handle low RH and low temperature conditions products

• WHO, EUGMP (from Hamburg Health authority), Canada, Ethiopia, Kenya, Sudan, Nigeria approved

API Unit, Navi Mumbai

• MF1: Multipurpose unit catering to emerging markets including India

• MF2: Dedicated Immunosuppressant facility catering to Regulated and Emerging markets including India

• MF3: Multipurpose unit catering to Regulated and Emerging markets including India

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• WHO, TGA Australia approved & Written Confirmation (WC) received from CDSCO

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Strong Backend Capabilities

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Quality

• All Critical SOPs harmonized through CQA

• Quarterly Internal audit of all plants by CQA

• All critical deviations, change controls and market complaints investigation approved by CQA

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Formulations R&D

• In addition to Formulations Development of IR, have capabilities to develop Modified Release & Complex Generics

• Dossiers Gap Analysis and fulfilment

• Tech Transfer/Site transfer activities

• GLP compliant Analytical Lab for Development and Validation of Analytical Methods

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Regulatory • Well established & evolved Regulatory function catering to Canada, UK, EU, Australia and Emerging markets • Expertise of eCTD submissions

• Integrated Project Management activities

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Digitization Focus Areas

• Quality Management systems : e-QMS, e-DMS, e-LMS .

• Access to critical manufacturing equipment through IRIS scanner

• All QC instruments attached with dedicated software and server

• All stability chambers with software control

• Secondary packing Complies with EUFMD requirement for Track and Trace.

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Operational Highlights

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RPG Life Sciences response to COVID-19

A passionate call to the entire organization to go all out to ensure continuous availability of our life saving, critical medicines to our patients.

Our Plants did not stop even for a single day. Every patient, who asked for our critical medicines, serviced by door delivery. 100% Employees are vaccinated with Dose 1 and >80% stand fully Vaccinated

Key Priorities

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Employees Care

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Business Continuity

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Community Service

• Strict protective measures across all locations

• Detailed SOP

• Immunity boosting measures

• Special Care for co-morbidities

• Enhanced medical Insurance

• Advisories/Sessions

• PPE kits, Masks and Sanitizers

Conserve Cash

• Sustained OPEX control measures

• Company became debt-free

Supply Continuity

• RM/PM availability through proactive planning and relationship management with key vendors

• “SafeSeniors” tool development for early detection of risk in vulnerable Senior citizen segment

• Community Servicing through RPG

• Foundation - sanitizers, masks, gloves, PPE Kits; meals, etc.

Customer Outreach through Digital

• Continuous Digital Connect/Engagement with employees and their families

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• Deployment of Digital initiatives like e-CMEs, teleconsultation facilitation service, webinars, etc.

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New Digitalization Initiatives to Transform Business

Game Changer Customer Connect Initiative

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Anytime, Anywhere Doctor Support Initiative Industry First Initiative

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Range of Services

>17000 Key Opinion Leaders

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Employee Connect Initiatives

Digital Platform for comprehensive Salesforce Operations tracking :

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Customer visits, customer engagement activities, sales performance analytics etc

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HR Chatbot for quick resolution of queries related to HR process and company policies

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A digital platform for Salesforce Grievance Redressal

Initiatives in Plant Operations

e-QMS : Digital Platform to track all 6 Quality parameters e-DMS : Digital Platform to manage all manufacturing/quality documents

e-LMS : Digital Platform to Track Training Sessions on CGMP e- Access : Retina Scanning for machine access

All above represent Illustrative list of the initiatives

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People Initiatives to build Performance Culture with focus on Happiness

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I Love My Work
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I Feel Valued
RPGLS Heroes
Outperformance
Recognition
You Excel. We Applaud.
Motivation Continuum
High
Happiness
I Live a Purposeful &
Quotient
Balanced Life
RPGLS Values I Feel Connected
Champions
Living Organizational
RPGLS Happiness
Values
Forums
Leadership Connect –
Month & Quarter
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I am Growing
We Skill. You Grow.
Competency Building
Continuum
Akanksha
Career Development
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I cherish our Culture
RPGLS Parivar
Tyohar-Utsav
Shrankhla
Digital RPGLS Family
Get Together
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FY22 Priorities

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Ensure 100% double dose vaccination of employees

Maintain growth momentum in top-line and bottom-line across the business segments

Continue to grow our presence in chronic and specialty therapies in DF through new product launches and new customer segments

Continue to build iconic/legacy brands into strategic assets

Continue to enhance salesforce productivity through targeted measures

New customer acquisitions in IF and APIs businesses

Accelerate digital transformation initiatives across frontend and backend to transform business

Building a Happy and Performance Driven Culture

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Awards & Recognitions

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RPG Life Sciences Bagged Top Awards from IDMA

Prestigious Awards from IDMA - Indian Drug Manufacturer’s Association in January 2020 (consists of 1000+ pharma companies)

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IDMA Quality Excellence Award 2019 (GOLD AWARD)

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IDMA Margi Patel Choksi Memorial Best Patent Award 2019

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IDMA Corporate Citizen Award 2019

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RPG Life Sciences is one of the India’s Best Workplace in 2020 – Amongst Top 100

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• Ranked 85 amongst India's 100 Best Companies to Work For 2020

• • One of India's Best Workplaces in Biotechnology & Pharmaceuticals ​by Great Place to Work® Institute ​

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Media Recognition

• Not a single day Plant stoppage

• Home Delivery of critical life saving medicines to all the patients

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T H A N K Y O U